State unemployment rate drops

The state’s seasonally adjusted unemployment rate experienced a significant drop, from a revised estimate of 10.9 percent in September to 10.5 percent in October. Fewer job seekers during the month, coupled with stronger employment growth led to the first September to October decline in the rate in five years. State Department of Employment and Workforce spokesperson Adrienne Fairwell says the decline is significant especially taking into account that it occurred during the time when the tourist season ends..

Although increases were seen in Construction and Government over the month, they are still recording negative numbers from a year ago: with Construction losing 4,700 jobs and Government down by 5,100.jobs. Fairwell says there has been a significant drop in first time claims for unemployment benefits.

Saluda County was the only one of the state’s 46 counties to experience an increase, going from 8.4 percent unemployed in September to 9.6 percent in October. Fairwell says DEW has intensified efforts to finds jobs for those actively seeking employment and those efforts are paying dividends.

Fairwell says now that the holiday season is rapidly approaching, hiring especially in the retail sector is expected to increase and should mean more encouraging news when the November figures are released.

Nonfarm payroll employment increased 9,400 from September to October. This gain reverses a three-month decline, and is an increase of 15,000 from a year ago. Manufacturing continues its upward trend, climbing 600 since last month and reflects a strong increase of 10,800 since last year.